Slate - Why Wall Street Hates Obama

Wall Street hates Barack Obama. That much, we know. But why? Just three years ago, he was Wall Street’s favored candidate. After being elected, he helped bail them out. He stopped Congress from going after their pay. He rejected proposals for radical reforms like breaking up the biggest banks. You would think Wall Street would give Obama a big Christmas bonus this year. Instead, they’re mobilizing against him.

There have been several competing theories for why the finance industry has turned on the White House. One is policy: The administration pushed through the Dodd-Frank financial regulatory reform bill, which tamps down on proprietary trading, leverage, and other tools banks use to increase profits. Another is ideology: Wall Street fingered Obama as a socialist, seeking to redistribute its hard-earned capital gains to the lazy and poor. A third explanation is psychology: Obama clearly doesn’t respect Wall Street. Therefore, Wall Street hates him.

All of those may be—and probably are—part of the story. But now there is a new and far more concrete contributor to the antipathy. Perhaps Wall Street hates Obama because Wall Street is doing terribly—and everybody blames the incumbent when the economy turns sour. The big investment banks are hardly broke—they remain, for the most part, profitable enterprises. But they are not thriving in the way they were a year or even six months ago, and they are dropping employees and slashing bonuses as profits tumble.

http://www.slate.com/articles/business/moneybox/2011/10/why_wall_street_hates_obama_the_surprisingly_simple_explanation_.html

DUers tell me Wall Street loves Obama and Dodd-Frank...WTF?

That's why we need a REAL Democrat at the top of the ticket.

For two weeks, he touts his jobs bill, which he knows ain't got a snowball's chance in hell of passing. Who among us was surprised that it failed?

And then, behind the scenes, he makes sure that the "needed trade agreements" will
pass. All three of them passed, and once again, like NAFTA before them, the agreements will hurt Americans looking for work.

But yet, Wall Street acts like the spoiled baby of the family, who has to have it ALL before the whining from the high chair will quit.

in these trade agreements that will hurt Americans...please cite the actual language in the bills? Thank you.

feel sorry for the millions who won't have work bec of repub obstruction...why in the hell would you feel sorry for Obama, he's got a job....

As it is, their rules prevent selling products into their country. They have plenty of access to the US already. Look at all the LG, Samsung, and Hyundai products selling here.

Without some style of tariffs, we are doomed irregardless of how many trade agreements we have on the books.
And the tariffs need to be meaningful, protecting the American farmer and worker.

That isn't the case right now.

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is on its back and cannot produce all those incomes
America once had. They are projecting their anger
at themselves on to the rest of us. They know that
as long as incomes for average American drop and
no new jobs are created, they (Wall ST) can only go
so high or they must resort gambling. This can only
last so long. For Wall ST to work, there must be
a balance between Main Street and Wall St. By pushing
all those ill-conceived Trade Policies to favor China
and other developing countries, they threw their own
fellow citizens under the bus. Now they have no one
to blame but themselves, it is much easier to PROJECT.

coming into office & creating as much uncertainty as they can in order to crash the economy for political reasons. They know Wall Street will back them 100% & Wall Street knows they will get 100% of what they want with a Republican controlled Government...Both Wall Street & The Republicans will probably get their wish come 2012. I sure hope not but reading DU everyday makes me think they will.

"Wall Street fingered Obama as a socialist, seeking to redistribute its hard-earned capital gains to the lazy and poor."

Are you kidding me? Wall Street may be a lot of things, but it's not stupid. This is highly unsophisticated analysis. Or maybe it's just the writing that's bad: perhaps she's saying "one of the competing theories that explains why WS hates Obama is that he's a socialist." Yeah, the crazy Tea Party theory, which is not a theory at all but mass paranoia.

Perhaps Wall Street hates Obama because Wall Street is doing terribly."

Really? They're doing terribly? Tell that to the judge. She writes: "But they are not thriving in the way they were a year or even six months ago." Oh, so sorry: you were doing abfab under two years of Obama and damned well now, but you're seeing a slight nick in your ability to dine at Per Se every night and shop at Harry WInston because of new rulings.

I give up. I thought this writer was supposed to be smarter than this. As far as I can tell, it's useless drivel.

Five seconds of research should have told this person that this is not true.

glad you noticed that as well.

He occasionally mildly scolds them in an effort not to be run out on a rail by his own electorate, dares even mention vague, loose limits, and doesn't give them whatever they want whenever they want it.

TeaPubliKlans don't do limits on the wealthy no matter how out of hand wealth is nor how minor the limits are, won't bother scolding them no matter how much they fuck up, and exist to serve their slightest whims.

There are absolutely no upper limits on the avarice of these people, there is no such thing as enough. You tell them "the sky is the limit", they accuse you of being anti-business, Marxist, and/or waging class warfare because you are saying their profits must be finite no matter how absurd the "limit" is.

An important lesson to learn for ideological compromisers is that one cannot bargain with a black hole no matter how generous the terms.

Obama dealt with these petulant specters of entropy exceedingly generously and probably stupidly by not de-fanging the viper and in return he gets venom.
That does not mean he has been in the slightest hard on them and it would be well beyond the bounds of laughable to call his handling tough.
Just to get to what these greedy fuckers would consider "fair" treatment you have to give them carte blanc, to be a "friend" you have to join them in believing that even the world is not enough.

It's not about that, they are just asshole repukes who can't get past their tribal connection

slightly.

THEY JUST SMELL THE PROSPECTS OF BIGGER CORPORATE WHORES ON THE HORIZON